Articles on Falling Crude Oil & Gasoline Prices

Readers, for your info, I know many people may be wondering why the prices of crude oil and gasoline have plummeted in the past 3 months or so. Today (1/5/2015) I began posting a series of articles on my website on this subject which I think will be very informative to readers. I will be posting a different article daily for this week and next week also.

The results of these MAJOR drops in crude and gas prices are already beginning to have SERIOUS impact to the U.S., State and Worldwide economies also, some good, but mostly BAD! Even the ethanol industry is being negatively impacted.

Read the articles at:

www.PeteLandrysRealGas.com

'Pete' Landry

poor Trent is not smart or he would realiize that oil prices would have to be extremely high for these other enregy sources to have a chance of being used.

While consumers benefit from much cheaper gas near term, there will be VERY SEVERE consequences if crude oil prices stay this low for very long. Already offshore drilling rig count is dropping and lay offs in the fracking companies has begun.

Read the articles I am publishing daily for updates....crude oil closed at $47.96 today!

'Pete'

maybe not so bad after all

http://dailysignal.com/2015/01/07/true-low-gas-prices-hurt-economy/

The article you posted the link to is correct 'Corksucker'; however, it depends on how long crude prices remain low like they are now, and some so called experts are predicting it may go lower than the high $40's where it is now.

The Louisiana economy is already being affected. Many 'fracking' companies drilling in Red River Parish south of Shreveport are already cutting back and starting to lay off workers. The State budget is in the red by over $300 million to date and getting worse by the day.

See an article I posted on my website today about what happened the last time crude oil prices crashed like is happening now.

www.PeteLandrysRealGas.com

'Pete'

OPEQ will continue to decide the prices. They are continuing to produce due to fear of US and European production. As of now, their tactic is working.

This has been going on for years many of them and the so called experts are wrong most of the time. It will work itself out because of demand. Like me and my friends we no longer make the long runs to fish due to gas prices. If gas drops down you can bet I will make more long runs etc. Just think if you knew when this demand is changing you would never have to work again as this drives the energy stocks in the market. Like the Weather man, LSU fan and Oil expert the next day they know all the answers but never the day before.

Mr. Trent_Buxton:

In your response to 'Corksucker', you aspouse getting away from 'fossil fuels' and move more to renewal sources of energy. Then, you say you support strongly the greater use of natural gas. Isn't natural gas a fossil fuel also? Contradictory, isn't it? Natural gas is definitely becoming more and more sought after as huge quantities are being produced as a result of fracking. This President's war on the coal industry is making more and more electric generating plants to move to natural gas. And, more and more large companies are converting their vehicle fleets to CNG, compressed natural gas and installing their own CNG refueling stations. This will grow more and more. A few car companies are also offering CNG vehicles (Honda and Ford). The thing that is holding them back is a lack of refueling stations today.

Bottom line is that renewal sources of energy become more likely to prosper when crude oil prices are high. They cannot justify the investments in renewal sources when crude oil prices are low.

'Pete'

Trent:

Yes, natural gas is definitely one of the cleaner fossil fuels. BUT, 'renewals' also have their own problems, which in some cases are actually WORSE than gasoline:

- Wind turbines are killing protected birds like Bald Eagles and others by the thousands annually.

- The ethanol industry is damaging the Gulf of Mexico by the runoff from cornfields that are the feedstock for the ethanol industry. The HUGE amount of nutrients (fertilizers) that runoff corn fields in the midwest corn country is the MAJOR contributor to the Gulf's 'Red Algae' or Hypoxia (no oxygen) layer in the Gulf every summer. Last year, the entire city of Toledo, Ohio was left WITHOUT drinking water due to a HUGE red algae bloom in Lake Erie which polluted it's water treatment plant inlet. Water had to be trucked in from surrounding cities and the city ran pipelines to adjacent cities to supply Toledo potable water. Later studies determined that the source of the Lake Erie algae bloom was fertilizer run off from cornfields. I have written letters twice to the EPA Administator as to why they are NOT developing regulations to require corn farmers to contain their fertilizer run off to PREVENT it from getting into the Mississippi and other rivers and lakes. They would NOT reply. They are ignoring this issue. Ethanol is all 'POLITICS'!

PLUS, the conversion of over 23 MILLION acres of 'Conservation' lands from 2008 - 2011 (the largest in the history of the Country) to farmlands to grow more corn and other grains is DESTROYING the habitat for birds like pheasant, ducks, etc. Ask Louisiana hunters if the duck population is deminishing.

So you see, 'Renewals' are not without their own very serious problems. I've published at least four research report articles on my website over the last 2 years by some of the most prestigeous Universities which concluded that the amount of CO2, which the environmentalists insist is the source of 'Global Warming' (oops, since the last extreme winters of the last several years, they have now changed their mantra to 'Climate Change') is actually WORSE than natural gasoline.

'Pete'

ilfield services giant Schlumberger plans to cut 9,000 jobs as the global collapse in crude oil prices crimps production in 2015 and perhaps even longer.

The cuts — nearly 8% of Schlumberger's 120,000 workers, were announced Thursday 'to better align with anticipated activity levels for 2015,'' the company said.

With production surging and waning growth, the world is awash with oil. That's led to a collapse in prices that's taken benchmark crude price down more than 50% since last June. Thursday, West Texas Intermediate fell 4.6% to $46.22 a barrel, while Brent crude slipped 2% to $47.67. Yet many forecasters say crude isn't close to bottoming.

'In this uncertain environment, we continue to focus on what we can control,'' said CEO Paal Kibsgaard. 'We have already taken a number of actions to restructure and resize our organization that have led us to record a number of charges in the fourth quarter. We are convinced that performance must now be driven by an accelerated change in the way we work through our transformation program.'

The layoffs come despite a relatively solid fourth-quarter earnings report in which the Houston-based Schlumberger increased revenue 6% to $12.6 billion and boosted earnings 11% to $1.94 billion. Schlumberger is also boosting its stock dividend 25%.

Houston-based energy explorer Apache Corp. began laying off about 5% of its workers earlier this week.

Schlumberger shares, down $1.76 to $76.63 Thursday, were down 3 cents to $76.63 in after-hours trading.

Notice revenue increased 6% in 4th qtr......
boowho

trent, you can bow out, up to you. but, I agree with pete, all what he said is factual, not conspiracy! check out what he said for yourself!

Oil would be better off for our energy needs if were to stay around $80 a barrel. From what I have read, the Saudis seem to think that the price will be low for the next year or two, apparently the oil related companies think so too. But, I am not feeling real sorry for the oil companies and related business. They had years of extremely high prices and profits. If they did not invest those monies wisely....shame on them. Nothing stays the same in this world, there are always downturns. I do feel bad for the workers caught up in this mess. That is how I lost my job two years ago.

Dont complain about the ethanol industry and have the gall to buy ethanol. I still havnt bought any and bought non-ethanol in summit mississippi yesterday for 211.9. Dont be a cornholer and complain, like i said before you are a hippocrite.